Business News
Thailand business news, market trends, foreign investment, and economic updates—stay informed on stock market movements, entrepreneurship, and key developments shaping the economy. Get the latest from The Thaiger, your trusted source for business news in Thailand.
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Phuket Business: Hydrofoil pilots
PHUKET: An innovative technology which looks to give a boost to the Andaman coastal region’s sea transport industry, is now being piloted off the shores of Phuket. Benchmarked by the unofficial launch of a hydrofoil sea transport and tour service, swift and seamless day trips from Phuket to distant, offshore havens in Krabi and Phang Nga provinces are not only…
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Phuket Business: Dive center targets “no niche’
PHUKET: THE international appeal of Phuket’s dive industry has seen many dive shops and dive centers on the island honing in on specific niche markets, usually centered around a specific country or nationality. Backed with their well-equipped dive boat and brand new training facilities, Andaman Ocean Safaris’ business model takes niche marketing a step further, by targeting agents, rather than…
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Phuket Business: Save yourself
PHUKET: I am personally a very big fan of Napoleon Hill, and I have just finished re-reading his original work The Law of Success in Sixteen Lessons. Each lesson is based on a quality or aspect which was a common denominator amongst all of the various successful men he had studied over a thirty year period, such as Henry Ford…
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Phuket Business: Now is the time to structure your financial investments
PHUKET: Now that 2012 is in full swing and no doubt many of the New Year’s resolutions have been thrown out of the window, it’s time to get a hold of the purse strings and have a set plan for the forthcoming year. I have already given my views on what I believe we can expect from the year ahead.…
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Phuket Business: Outlook 2012 – bulls to the fore?
PHUKET: Personally, I am very glad 2011 is over; it was a horrible year across the board for almost all investment strategies. I do think 2012 will be a better year, although I am not predicting that things are going to get better overnight. Unfortunately there are two opposing forces at play which allows for a lot of uncertainty in…
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Phuket Business: Customs: trade thrives in 2011
PHUKET: Trade flourished during 2011 in Phuket, with the island’s surplus of exports over imports more than 10.4 billion baht, according to statistics recently released by the Phuket Customs House. The total value of imports to the island during the 2011 Thai Government fiscal year (October 2010 to September 2011) was 2.12bn baht compared to 12.5bn baht in exports during…
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Phuket Business: Petrol pump prices jump
PHUKET: Nationwide petrol prices, including those in Phuket, rose by as much as 40 satang earlier this week. The Phuket Gazette confirmed with PTT gas stations in Phuket that the price rises on petrol and gasohol went into effect on the island last Wednesday. The prices of all benzine petrol and most forms of gasohol increased by 40 satang (0.4…
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Phuket Business: Solar system pilots
PHUKET: An innovative new solar power system will be making its world premier in the coming months, with Phuket to serve as a pilot market, and possibly a manufacturing base. The Powerrrup – that’s right, 3 rs – is an ingenious yet simple ground-breaking, renewable energy system developed specifically with the island’s “green conscious” market in mind. Its inventor, Ivan…
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Phuket Business: Dot Com rise and fall on the way
PHUKET: Dot com and dot net website owners in Phuket and across the globe will incur an increase in annual registration fees of no less than 7% after Sunday.Webmasters wanting to take advantage of current rates have until 11:59pm on Saturday in the time zone that the registrar is located to make sure their web domains’ registrations have been accepted,…
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Phuket Business Briefs: new AirAsia route; Sri Lankan E-visa; Dollar rise; Wallace leaves
Trang welcomes new AirAsia routeThai AirAsia has announced regular flights between Bangkok and Trang commencing in the middle of January. Currently Nok Air and Orient Thai service the destination. Tourism in the southern area of Trang continues to struggle with low demand. Sri Lanka starts E-visa requirementDespite a drive to increase tourism numbers into post-war Sri Lanka, the country is…
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Phuket Business: Peak season tourism spike sees limited hotel vacancy
PHUKET: Occupancy rates at hotels along Phuket’s beaches have averaged more than 90 per cent during the current peak period and are expected to remain at or near capacity well into 2012, the Tourism Authority of Thailand (TAT) has announced. Bangornrat Shinaprayoon, head of the TAT regional office in Phuket Town, said the island’s tourism sector is bustling not only…
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Phuket Business: Year-end events inject B370mn into economy
PHUKET: A number of large events held in Phuket during the final month of 2011 are expected to have generated as much as 370 million baht in revenue, government officials were told recently. The news was announced at a meeting at Phuket Provincial Hall. Chaired by Phuket Governor Tri Aukaradacha, the meeting was attended by representatives from various government departments.…
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Phuket Business: Ingredients of good showbiz
PHUKET: Siam Niramit Phuket recently launched the second edition of “Thailand’s Must-See Show”, opening a massive new theater on the bypass road near Phuket Town to house it. Good news for the local entertainment and tourism sectors, Siam Niramit Phuket’s “Journey to the Enchanted Kingdom of Siam” show provides one more compelling itinerary for tourists and residents alike. Pannin Kitiparaporn,…
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Phuket Business: Time is money
PHUKET: One of the first concepts we needed to learn when studying finance was that of the time value of money. In theoretical terms it is quite easy to understand, but when practically applying it to life decisions it can be a little more complicated. Basically the idea is that 100 dollars today is preferable to 100 dollars in a…
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Phuket Business: a collective island soul
PHUKET: Life in the brick house is in full holiday swing. Gargantuan cement trucks ante for position alongside monster buses teeming with an endless array of travelers. Despite a rising urban swell that is pushing development heavenwards, there has to be more to Phuket’s economic success story than bricks, mortar and an endless amount of infinity swimming pools. I tend…
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Phuket Business: a modern gold rush
PHUKET: As my latest trip to the UK continues, I was thinking “What can I get my dearest for Christmas this year?” I’m not the biggest fan of shopping trips and love nothing more than having a fixed plan in place to minimize the whole experience. Being Christmas, though, I thought I should give this a little more time and…
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Phuket’s superyacht industry flourishing
PHUKET: Migratory birds aren’t the only ones moving south to escape plummeting temperatures in the northern hemisphere. South Asia is rapidly becoming the preferred winter destination for owners of superyachts – motor yachts in excess of 30 meters or 100 feet. Indeed, an increasing number of these luxurious leisure ships can be sighted off the shores and islands across the…
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Business briefs – new airbus for Phuket; 3G; rubber trading
New Bangkok Airways Airbus to fly Phuket, Koh Samui, Chiang Mai, Bangledesh and IndiaPhuket GazetteBangkok Airways recently acquired a new Airbus 319, the airline’s 18th aircraft. With a total of 130 economy seats, the new craft will fly domestic and international routes serving at least five destinations including Phuket, Koh Samui, Chiang Mai, Bengarulu (Bangalore, India) and Dhaka (Bangladesh). The…
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Pornthip Phuket packaging takes to world stage
PHUKET: Pornthip (Phuket) Co Ltd, the island’s most recognized food-gift brand, submitted two of its award-winning products to contest in the AsiaStar Awards 2011, also known as the “Packaging Oscars of Asia”. Having recently achieved national recognition at the ThaiStar Packaging Awards 2011, Pornthip’s Andaman and Sino-Portuguese gift sets will now join the regional ranks along with 54 other submissions…
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Phuket’s labor shortage critical
PHUKET: Industry analysts describe the labor shortage in the Phuket tourism industry as “critical”, with as many as 4,000 vacant hotel positions as the island enters its annual high season for tourism. Bhuritt Maswongsa, a vice president of the Phuket Tourist Association, said, “The lack of hotel employees has now reached a crisis point with 3,000 to 4,000 unfilled positions.…
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Chalong Marina ready in 2012
PHUKET: Work on the 70-million-baht Chalong Bay Marina project is now about 90% complete and should be finished early in the new year, officials say. Phuriphat Teerakulpisut, Chief of the Marine Department Region 5 office in Phuket Town, said opening of the 44-slip facility will improve the island’s ability to accommodate the growing number of yachts that port in Phuket…
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Boats to show at PIMEX 2012 valued at US$50mn
PHUKET: Boats confirmed for display at the Phuket International Boat Show 2012 (PIMEX) have a combined value of more than US$ 50 million (approx 1.5 billion baht). To be held at the Royal Phuket Marina from March 29 to April 1 2012, this ninth edition of PIMEX is organized by Informa Yacht Group. PIMEX brings leading boat brands, yachting products…
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Kings Cup Regatta to generate B600mn for Phuket
PHUKET: This year’s Kings Cup Regatta is expected to rake in 600 million baht for Phuket. Presiding over a press conference to promote this year’s event, Phuket Governor Tri Aukaradacha last week said that this year’s revenue for the province is likely to exceed that of last year’s edition. Noting that last year’s regatta generated about 550 million baht for…
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Phuket Business: Uncertain future for electronic billboards
PHUKET: Commuters in Phuket have witnessed a gradual upgrade in roadside scenery over the last few years. Advertising and media communications are steadily evolving, and many will have noticed traditional print billboards gradually being replaced with animated, digital versions at various traffic junctions around the island. Indeed, the emergence of Light Emitting Diode (LED) technology represents a sign of the…
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Wage hikes postponed for Phuket and others
PHUKET: The Cabinet has approved the postponement until April 1 of the controversial 300 baht daily minimum wage hike in Phuket, Bangkok, and five other provinces. The decision to postpone from the initial target of January 1 was made in light of the recent flooding, which has dealt a body blow to the manufacturing sector in much of the country.…
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Dewa Phuket wins 7 awards
PHUKET: Dewa Phuket, the boutique resort at Nai Yang beach, bagged seven awards at the ‘2011–2013 Hospitality Asia Platinum Awards’, or HAPA. The HAPA Southeast Asian regional ceremony, which took place on November 17 and 18 in Singapore, welcomed hospitality sector representatives from Thailand, Singapore, Indonesia, Malaysia, Vietnam, and the Philippines. Created by World Asia Publications in 2002, HAPA recognizes…
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Experts call for consistency with “Brand Phuket’
PHUKET: The Greater Phuket chapter of the American Chamber of Commerce (AMCHAM) last night held a meeting to discuss the history, evolution and future of “Brand Phuket”. Hosted at the Anantara Resort in Mai Khao, discussions of the island’s brand were fueled by inspirational presentations by marketing communications expert David Johnson and brand guru David Keen. Also in attendance were…
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Phuket Business – Looking forward to 2012
PHUKET: Walking into my local shopping center yesterday I was amazed to see Christmas decorations adorning the shops and general surroundings. A quick check of the date on my watch and I realized that although the trees, baubles and tinsel were a trifle early, it certainly was closer to the holidays than I had imagined! This gave me food for…
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Brazil targeted as new tourist source market for Phuket
PHUKET: Brazilians are among the latest target group of tourists to be lured to Phuket and the Andaman region. Speaking recently at a press conference for the Andaman Travel Trade 2011 exhibition, TAT Deputy Governor for International Marketing Juthaporn Rerngronasa highlighted the South American country as an expanding market for incoming tourism. There were 10 operators from Brazil at this…
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Luxury car imports into Phuket steady
PHUKET: Despite global economic turmoil, the luxury car import business continues to perform well in an expanding domestic market. Saksri Kerdphol, General Manager of Phuket’s premier foreign automobile dealer and servicer AutoExpress, speaks exclusively with the Gazette about foreign cars and the import market trends in Phuket.Phuket Gazette: How would you describe AutoExpress clients? Who is your main target group…
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